Ajmera Realty Acquires Land Parcel In Mumbai From Tata Comm For Rs 76 Cr

The acquisition is intended for the residential development offering one, two and three BHK, with an estimated gross sales value of Rs 550 crores, the company said in a statement.

The land is located in Mumbai's Vikhroli East. With its strategic location and contemporary offerings, land is a preferred residential choice for prospective buyers in the area, it said.

The land acquisition marks the initial step in the project which is expected to be launched in the financial year 2024.

The demand for quality homes and better lifestyles, coupled with infrastructure development, has led to new opportunities for growth in the housing sector, which Ajmera Realty is keenly exploring, it said.

Dhaval Ajmera, director, Ajmera Realty said, "This micro-market at Vikhroli is strategically well-located and holds immense potential, with a favorable market environment."

The company is bullish that this step will help it garner an approximate sales potential of Rs 550 crores, fostering the company’s overall growth.